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20110301
20110301
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CBS
Feb 28, 2011 6:00pm PST
their money. >> horrible public policy. it is that is catered to this industry to make it hard for us to operate on. >> reporter: the new tax was authorized by measure u which was approved by san jose voters last november. the current sales tax for all businesses is nine and a quarter percent. but cannabis clubs will be taxed an additional 7% on the gross receipts for a total tax of 15 .25%. >> that rate would definitely have to be something that was pushed on to the members. >> that could be some substantial revenue. >> reporter: san jose councilman suggested the city consider the tax and says it could help with the projected $110 million deficit. >> this was fiscal regular lallation of medical cannabis collectives, one by requiring financial audits. two by implying or implementing a 7% grows receipts tax. that revenue then would be used to pay for the city services. >> david gearhart is a user of medical marijuana and he says the new tax could push some business away from legitimate providers. >> it makes the people who aren't selling the medicine legally better providers. at least
Search Results 0 to 0 of about 1